CVR Energy Inc. $CVI Shares Bought by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in CVR Energy by 26.6%, owning 587,300 shares worth approximately $11.4 million as of the last reporting period.
• CVR Energy reported a loss of $0.23 per share for the last quarter, missing analysts' estimates, and its revenue was down 10.5% year-over-year at $1.76 billion.
• Brokerages have mixed views on CVR Energy's stock, with six analysts issuing sell ratings and an average target price of $22.25, despite some price upgrades from firms like Mizuho and Scotiabank.

Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 26.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,300 shares of the oil and gas company's stock after purchasing an additional 123,510 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.58% of CVR Energy worth $11,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of CVR Energy by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,159,992 shares of the oil and gas company's stock worth $80,704,000 after buying an additional 24,677 shares during the period. Dimensional Fund Advisors LP raised its stake in CVR Energy by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock worth $40,876,000 after acquiring an additional 238,081 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CVR Energy by 14.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 894,193 shares of the oil and gas company's stock worth $17,347,000 after acquiring an additional 111,114 shares during the period. American Century Companies Inc. lifted its position in CVR Energy by 12.8% during the 1st quarter. American Century Companies Inc. now owns 782,012 shares of the oil and gas company's stock worth $15,171,000 after acquiring an additional 88,778 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in CVR Energy by 36.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock valued at $14,548,000 after purchasing an additional 207,872 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company's stock.

CVR Energy Stock Up 1.4%

CVR Energy stock opened at $27.2160 on Friday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -8.20 and a beta of 1.20. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $32.67. The business's 50-day moving average price is $27.95 and its 200 day moving average price is $22.90. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The company's revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVI. Mizuho raised their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of CVR Energy from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Scotiabank raised their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, CVR Energy currently has an average rating of "Strong Sell" and an average target price of $22.25.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.

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